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rich of the rich to tax more, those making over $250,000, the obama proposal, or $400,000, a level senate republican leader mitch mcconnell reportedly said he might be able to sell, but republicans wants the debate shifted. >> all the talk is about taxes. what the talk should be about is what we want to talk about today, and that's the medicare fiscal cliff. >> reporter: no way to cut a deal by tuesday to reform entitlements. some say that's good. >> the big problem is if we do something right now that has longlasting adverse effects on economic growth, that will cost us for a very long time. >> reporter: but for a short time americans say fix the tax problems. >> it's a frustrating feeling to see the two sides apart. >> frankly where he shouldn't be taxed more because they can't work together. >> end the taxes for the middle class and figure out the rest of it come january, worst case. >> reporter: worst case, say many, is no deal on anything. but some tea party republicans are said to be ready to let everyone's taxes go up on tuesday, so they can quickly help figure the like on middle-c
rich of the rich to tax more, those making over $250,000, the obama proposal, or $400,000, a level senate republican leader mitch mcconnell reportedly said he might be able to sell, but republicans wants the debate shifted. >> all the talk is about taxes. what the talk should be about is what we want to talk about today, and that's the medicare fiscal cliff. >> reporter: no way to cut a deal by tuesday to reform entitlements. some say that's good. >> the big problem is if we...
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Dec 28, 2012
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MSNBCW
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is the payroll tax. that's already obama apparently gave up on it two weeks ago and gone no matter what and only the refundables. >> yep. >> you're talking about hugely important to the working poor but for the vast majority of the country, it's almost ir el vant. we are just -- >> they aren't tax credits and what you fill out when you fill out your taxes which won't happen until 2014. if they're in effect, it costs the average family an extra $3,400 or so but in the first week, two weeks, actually, costs the average family about $40 and that's the payroll tax and if it's in effect for a month, $80. that's what we're looking at here and doesn't account for the psychological damage that will happen when the stock market tanks, employers hire fewer people. >> consumer confidence. >> confidence goes further. i mean, those are the imponderables and will happen. we're already seeing it happen and, you know, this is damaging the economy right now. this is not theoretical in the future. but a lot of economists
is the payroll tax. that's already obama apparently gave up on it two weeks ago and gone no matter what and only the refundables. >> yep. >> you're talking about hugely important to the working poor but for the vast majority of the country, it's almost ir el vant. we are just -- >> they aren't tax credits and what you fill out when you fill out your taxes which won't happen until 2014. if they're in effect, it costs the average family an extra $3,400 or so but in the first...
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Dec 28, 2012
12/12
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KTVU
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the president is not putting new offers on the table but there are reports of a compromise to raise tax rates for them. both sides say thar are disappointed. >> it is totally a lack of courage to deal with these issues. from washington to wall street there is a sense of gloom but the prospects of deal. here in dc a new furlough warning went out to federal workers, deep spending cuts and tax hikes go into effect for every 1 on new year's eve if congress doesn't take action. kyla campbell, ktvu channel 2 news. >> thanks, if the president and congress are not able to avoid the fiscal cliff experts say people here in california will be hit especially hard because prop 30 voted into law in november will mean higher sales taxes and income taxes on the state's top earners. the fiscal cliff would add to that, hitting all americans with higher taxes. >> i don't know there is a word to describe how pissed the public is going to be, nobody going to be happy to see that happen. >> if taxes go up on everybody it is not going to be a happy time but i think that is inevitably what is going to happen.
the president is not putting new offers on the table but there are reports of a compromise to raise tax rates for them. both sides say thar are disappointed. >> it is totally a lack of courage to deal with these issues. from washington to wall street there is a sense of gloom but the prospects of deal. here in dc a new furlough warning went out to federal workers, deep spending cuts and tax hikes go into effect for every 1 on new year's eve if congress doesn't take action. kyla campbell,...
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Dec 28, 2012
12/12
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KGO
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. >> j president obama will meet with leaders from capitol hill today, hoping to avoid the fiscal cliff, combination of spending cuts and tax hikes with will go into effect unless lawmakers can broker a deal before the end of the year. will meet with congressional white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. jive to be very honest mr. president, -- >> i have to be very honest mr. president, i don't know time-wise how it can happen now. >> reporter: senate majority leader harry reid]vtkÑ lashed ot at speaker boehner accusing him of running a tar forship. >> john boehner seems to -- >> reporter: republican leaders blame democrats for the standoff and say there are limits to a compromise. >> republicans aren't about to write a blank cheque or anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> reporter: president obama flew home early from his hawaii vacation yesterday. speaker boehner call the house back into town for an unusual sunday
. >> j president obama will meet with leaders from capitol hill today, hoping to avoid the fiscal cliff, combination of spending cuts and tax hikes with will go into effect unless lawmakers can broker a deal before the end of the year. will meet with congressional white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. jive to be very honest mr. president, -- >> i have to be very honest mr. president, i don't know time-wise how it...
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Dec 28, 2012
12/12
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KRON
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president obama and top congressional leaders will look for common ground to keep automatic tax increases and spending cuts from kicking in. they only have four days to reach an agreement or the u.s. economy will go over the so- called fiscal cliff. that's when automatic tax increases and spending cuts would take effect. reaching a deal before then what be easy. right now both sides are involved in a high-stakes political blame game. >> we in washington are working while the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president i would be happy to look at whatever he proposes but the truth is we're coming against a hard deadline here. i said this is a conversation we should have had months ago. >> former president george h. w. bush is still in intensive care at a hospital in houston with a stubborn fever. the family is, that he will be out of the i see you sound. the chief of staff said supporters a note yesterday including " he would ask me to tell you please put the sh
president obama and top congressional leaders will look for common ground to keep automatic tax increases and spending cuts from kicking in. they only have four days to reach an agreement or the u.s. economy will go over the so- called fiscal cliff. that's when automatic tax increases and spending cuts would take effect. reaching a deal before then what be easy. right now both sides are involved in a high-stakes political blame game. >> we in washington are working while the house of...
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Dec 28, 2012
12/12
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CSPAN
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the bush-era tax cuts will expire at the end of this year. obama was elected with a surplus of about three million votes. he won the election. he campaigned on this issue. again, the speaker can't take yes for an answer. the president has presented him something that would prevent us from going over the cliff. it was in response to something the speaker gave to the president himself, but again, i guess with the dysfunctional republican caucus in the house, even the speaker can't tell what they are going to do because he backed off even his own proposal. mr. president, the house we hear so often is controlled by the republicans, and we acknowledge that. i would be most happy to move forward on something that senator mcconnell said they wouldn't filibuster over here that he would support and that boehner would support if it were reasonable, but right now they are -- we haven't heard anything. i don't know -- and it's none of my business, i guess, although i am very curious -- if the speaker and the majority leader -- the republican leader over
the bush-era tax cuts will expire at the end of this year. obama was elected with a surplus of about three million votes. he won the election. he campaigned on this issue. again, the speaker can't take yes for an answer. the president has presented him something that would prevent us from going over the cliff. it was in response to something the speaker gave to the president himself, but again, i guess with the dysfunctional republican caucus in the house, even the speaker can't tell what they...
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Dec 28, 2012
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it has been reported that president obama presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >> yes there is little doubt in washington about the seriousness of the sick jubilation. the problem is withdrawing government demand from the economy too big spending programs cuts with a smothering effect on the tax hikes will have been very damaging effect on the was economy and by extension the world economy. people know it is serious, but the politics, we know that the house and senate republicans do not want to increase taxes on anybody, so it is very difficult to see how a package can get through congress, certainly in time for the new year. one guess is that the
it has been reported that president obama presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means...
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Dec 28, 2012
12/12
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KGO
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spending cuts and tax hikes will go into effect unless lawmakers can broker a deal. >> reporter:cx$z president obama will4zkn:eÑ with congressional leaders later today at the white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. >> i have to be honest mr. president, i don't know timewise how it can happen now.((?u >> reporter: harry reid lashed out at house speaker bane area out at house speaker bane area caution him ofrm" dictatorship. >> boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> reporter: republicans blame democrats. >> republicans aren't about to write a blank cheque or anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> reporter: president obama flew home early from his speaker boehner call the house back into town for an unusual sunday session. members of congress understand the 11th hour actions may not be enough to appease the public. >> the american people have a
spending cuts and tax hikes will go into effect unless lawmakers can broker a deal. >> reporter:cx$z president obama will4zkn:eÑ with congressional leaders later today at the white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. >> i have to be honest mr. president, i don't know timewise how it can happen now.((?u >> reporter: harry reid lashed out at house speaker bane area out at house speaker bane area caution him...
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Dec 28, 2012
12/12
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KPIX
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." >> reporter: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, carlino will be watching. >> everybody's kind of in
." >> reporter: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we...
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Dec 28, 2012
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WUSA
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the closed-door meeting was an attempt to avoid the automatic tax hikes and spending cuts set to king at the start of the new year. >> we had a constructive meeting today. senator reid and senator mcconnell are discussing a potential agreement where we could get a bipartisan bill out. >> reporter: at the present time reminded lawmakers thers
the closed-door meeting was an attempt to avoid the automatic tax hikes and spending cuts set to king at the start of the new year. >> we had a constructive meeting today. senator reid and senator mcconnell are discussing a potential agreement where we could get a bipartisan bill out. >> reporter: at the present time reminded lawmakers thers
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Dec 28, 2012
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prop 30 voted into law in november will mean higher sales taxes and higher income taxes on the states top earners. the fiscal cliff would add to that. hitting all americans with higher taxes. the lowest income folks will see their take home pay shrink just over 3.5%. average earners 4% and top earners 6%. >>> the crystal ball that drops in new york's time square will have a little something extra this year. workers are already installing the 288 crystal panels. one of them is a little different from the rest. it's engraved with the name of dick clark. he hosted the new years eve telecast from time square for 40 years. this year's show will be hosted by ryan sea crest. >>> time now 6:26. let's go to tara. she is covering traffic. there is something going on in marin. >> yeah pretty minor thing. 101 northbound at highway 37 this is in novato. we have a stalled vehicle or someone that spun out. chp has not figured that out yet. right now let's take a live look at down in the south bay. 280 at the 880 split headlight there is are northbound traffic toward santa clara no delays. and 680 at
prop 30 voted into law in november will mean higher sales taxes and higher income taxes on the states top earners. the fiscal cliff would add to that. hitting all americans with higher taxes. the lowest income folks will see their take home pay shrink just over 3.5%. average earners 4% and top earners 6%. >>> the crystal ball that drops in new york's time square will have a little something extra this year. workers are already installing the 288 crystal panels. one of them is a little...
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Dec 28, 2012
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higher sales taxes and income taxes on the top earners. the fiscal cliff would hit all of that. >> i don't know if there is a word to describe how mad the public is going to be. nobody is going to be happy to see that happen. >> if taxes go up on everybody; it will not be a happy time. i think that is what will happen. >> meanwhile the tax policy center says they will see their take home pay shrink just over 3.6%. >>> at a time when people were mourning the horrible sandy hook shooting one new york woman took advantage of that sympathetic spirit by allegedly setting up a charity scam in connection to that tragedy. 37-year-old noel alba set up an internet scam claiming to be the aunt of six-year-old noah pozner. no a's uncle says he is disgusted someone would do this. >> my nieces and i think of these scammers they are stealing from them. they are survivors of this tragedy. >> the fbi says four days after the school shooting all of the money was refunded to donors. alba the mother of two teens denies opening the fund and says someone hacked
higher sales taxes and income taxes on the top earners. the fiscal cliff would hit all of that. >> i don't know if there is a word to describe how mad the public is going to be. nobody is going to be happy to see that happen. >> if taxes go up on everybody; it will not be a happy time. i think that is what will happen. >> meanwhile the tax policy center says they will see their take home pay shrink just over 3.6%. >>> at a time when people were mourning the horrible...
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Dec 28, 2012
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FOXNEWSW
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because of their low corporate tax rate. big obama supporter. for all of you people wearing beats headphones that money is going through ireland now because of that problem. heather: okay. before we get off on dr. dre, let's talk a little bit what is going on now, 30 minutes from now, any moment, they're starting to arrive, we have boehner, pelosi, mcconnell, reid. they're on capitol hill. what can president obama offer that both sides can agree to. >> unfortunately for individual members of the republican house it is to their interest to let tax increases go into effect. that way they won't be viewed as having raised taxes. they can come in and easier to negotiate with them. what the president, what we are hearing about what the president is proposing though, is a small deal to get them through the fiscal cliff so that it avoids some of the implications, some of the more damaging implications for the economy. i don't think the fiscal cliff honestly is really going to have a huge impact. our housing market and labor market remained firm and i th
because of their low corporate tax rate. big obama supporter. for all of you people wearing beats headphones that money is going through ireland now because of that problem. heather: okay. before we get off on dr. dre, let's talk a little bit what is going on now, 30 minutes from now, any moment, they're starting to arrive, we have boehner, pelosi, mcconnell, reid. they're on capitol hill. what can president obama offer that both sides can agree to. >> unfortunately for individual members...
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Dec 28, 2012
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CSPAN
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obama ran on we're not raising taxes. now, income is a weird thing. i mean, look, i can make $250,000 in income as a working person and my taxes will go up. but if i was mitt romney the ex-presidential loser who made $15 million based on -- what is it tax deferred investments then my taxes won't go up a bit. the republican party is not interested in helping this country they are helping a narrow sliver. >> we're going to leave it there. we're going to keep continuing coverage bringing you updates from the white house or the floor of the capitol. we heard from president obama earlier from the white house briefing room. we're going to take a look at his comments now on the fiscal cliff and the prospects for a deal going forward. >> good afternoon, everybody. for the past couple of months i've been working with leaders from both parties to try to forge an agreement that will grow our economy and shrink the deficit. a balanced plan that will cut spending in a responsible way but also ask the wealthiest americans to pay a little more. above all, avoid the
obama ran on we're not raising taxes. now, income is a weird thing. i mean, look, i can make $250,000 in income as a working person and my taxes will go up. but if i was mitt romney the ex-presidential loser who made $15 million based on -- what is it tax deferred investments then my taxes won't go up a bit. the republican party is not interested in helping this country they are helping a narrow sliver. >> we're going to leave it there. we're going to keep continuing coverage bringing you...
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Dec 28, 2012
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CSPAN
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we had the bush tax cuts that began in 2001 and 2003. we extended them under president obama. those are set to end on monday. $110 billion in annual spending cuts were agreed to under president obama as part of the debt ceiling negotiation. those begin on tuesday. we have the payroll tax cut in place for two years, takes about two percentage points off people's taxes, bill will end on monday. business tax breaks, bill will end on monday. the alternative minimum tax, which is confusing, but it would be a disaster if that was not taken care of, because it would raise the taxes of about 30 million americans for their 2012 income and 2013. and all the confusion could screw up the whole tax filing season. who knows when you will be filing your taxes, because the irs does not know which tax rates will be applied and who will be responsible for paying what. so it's going to be a mess if this is not handled quickly. host: if we are sitting here a month from now after the inauguration and there's still no final agreement on taxes, could that the label 15 -- guest: no doubt about it. se
we had the bush tax cuts that began in 2001 and 2003. we extended them under president obama. those are set to end on monday. $110 billion in annual spending cuts were agreed to under president obama as part of the debt ceiling negotiation. those begin on tuesday. we have the payroll tax cut in place for two years, takes about two percentage points off people's taxes, bill will end on monday. business tax breaks, bill will end on monday. the alternative minimum tax, which is confusing, but it...
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Dec 28, 2012
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KQED
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in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday. it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began, several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and republican m
in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday....
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Dec 28, 2012
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KRON
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. >> president obama top congressional leaders will look for common ground to get automatic tax increases and spending cuts from kicking in. >> their only four days to reach an agreement or you as a common goal of the so- called fiscal cliff we are here in washington working all the members of the house of rand representatives are all watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here until the president i would be happy to look at whatever he proposes but the truth is we are coming up against a hard deadline and as i said this to the conversation we should add months ago. >> democrats want to extend the bush era tax cuts to everyone except those americans making $250,000 or more year. >> many republicans are made against any tax increases. >> russian president of vladimir putin aside a bill banning americans from adopting russian children. >> the law also blocked dozens of russian children or currently in the adoption process by american families from leaving the country. >> putin says the bill is retaliation for an america
. >> president obama top congressional leaders will look for common ground to get automatic tax increases and spending cuts from kicking in. >> their only four days to reach an agreement or you as a common goal of the so- called fiscal cliff we are here in washington working all the members of the house of rand representatives are all watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here until the president i would be...
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Dec 28, 2012
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KRON
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obama and congressional democrats want a deal that would let tax rates rise for the wealthiest taxpayers. many republicans remain against any tax increases. the white house meeting would be the first time the president has huddled with all four leaders since november 16. the senate is back in session. majority leader harry reid is starting to sound pesimistic. >> "i have to be very honest. i don't know how it can happen now." >> reporter: the house is still on christmas break. but will meet sunday evening, a little more than 24 hours before the "fiscal cliff" arrives. but it's not clear what legislation it might consider >> "hopefully there is still time. prevent economic crisis." >> reporter: and over the edge is just where the economy may go. im justine waldman for kron 4 news. >> michael yaki is joining us. right into the deadline, five days to go. late this afternoon president obama is going to be meeting with congressional leaders. and in the over one month what can we expect any progress? >> i do not think so. but it depends. if the president is going to lay out his plan which is i
obama and congressional democrats want a deal that would let tax rates rise for the wealthiest taxpayers. many republicans remain against any tax increases. the white house meeting would be the first time the president has huddled with all four leaders since november 16. the senate is back in session. majority leader harry reid is starting to sound pesimistic. >> "i have to be very honest. i don't know how it can happen now." >> reporter: the house is still on christmas...
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Dec 28, 2012
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WJZ
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in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday. it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and republican mi
in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday....
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Dec 28, 2012
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KRON
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president obama and top congressional leaders will look for common ground to keep automatic tax increases and spending cuts from kicking in. if they have only four days to reach an agreement. the u.s. economy will grow over the so-called " fiscal cliff. " that's when automatic tax increases and spending cuts could take effect. retain a deal before then will not be easy. because right now, both sides are involved in a high-stakes political blame game. >> we are here in washington working while the members of a house representatives are watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. i told the president that i would be happy to look at whatever he proposes but the truth is we are coming up against a hard deadline here and as i said this is a conversation we should have made months ago. democrats want to extend the bush era tax cuts to everyone except those americans making too much and $50,000 or more a year. many republicans remain against any tax increases. >> former president george h. w. bush is still in intensive car
president obama and top congressional leaders will look for common ground to keep automatic tax increases and spending cuts from kicking in. if they have only four days to reach an agreement. the u.s. economy will grow over the so-called " fiscal cliff. " that's when automatic tax increases and spending cuts could take effect. retain a deal before then will not be easy. because right now, both sides are involved in a high-stakes political blame game. >> we are here in washington...
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WJLA
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president obama will meet with leaders today to avoid tax hikes. we will have an in-depth report just a few moments. here is a check of the traffic. >> here is the impact of the water main break. this is 355 just south of the beltway. the right lane is still squeezing by. the best way is to head into georgetown road. we will take a look at springfield with everything moving smoothly. 395 moving without delay, accidents, or incidents. at the forecast. >> 37 degrees is our temperature right now. way into theour upper thirties and low '40's with sunshine between the cloudiness. t is when tonight, tha the snow begins. think everyone will get some mixing through the south and east. heavier amounts in the blue area.ry the snow lasts through the g tomorrow and dries up in the day. it will be sunny but breezy on sunday. >> double for watching. have another update [ cheers and applause ] >>> wow. amazing. hello. hello. good morning. look at d.j. kiss, getting it done. she's also a smart d.j. because he's inside. >> a little cold out here. >> it's brisk out
president obama will meet with leaders today to avoid tax hikes. we will have an in-depth report just a few moments. here is a check of the traffic. >> here is the impact of the water main break. this is 355 just south of the beltway. the right lane is still squeezing by. the best way is to head into georgetown road. we will take a look at springfield with everything moving smoothly. 395 moving without delay, accidents, or incidents. at the forecast. >> 37 degrees is our temperature...
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Dec 28, 2012
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economists hope they'll come up with a plan to avoid automatic tax increases and government spending cuts. some fear the meet as good just for show, however a big development with the senate minority leader. he spoke directly with the president for the first time in negotiations. >> i told the president we would be happy to look at whatever he proposes but the truth is we're coming up against a hard dead line here and as i said, this is a conversation we should have had months ago. >> the main sticking point is who should pay more in taxes. democrats want a hike on households making more than $400,000 a year and republican aids say their leaders might get on board with that offer. >>> meanwhile if they aren't able to avoid the fiscal cliff people here in alabama will be especially hard hit. that's because prop 30 will soon mean higher sales taxes and higher income taxes on the state's top earners, the fiscal cliff would add to that hitting all american with higher taxes. >> i don't know if there's a word to describe how upset the public is going to be. nobody's going to be happy to s
economists hope they'll come up with a plan to avoid automatic tax increases and government spending cuts. some fear the meet as good just for show, however a big development with the senate minority leader. he spoke directly with the president for the first time in negotiations. >> i told the president we would be happy to look at whatever he proposes but the truth is we're coming up against a hard dead line here and as i said, this is a conversation we should have had months ago....
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Dec 28, 2012
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any compromise is expected to include an extension of the middle class tax cuts with increased rates at upper incomes. spending cuts could also be canceled. ahead of those talks, plenty of blame is being spread around already. >> john boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> hopefully there's time for an agreement of some kind. >> speaker john boehner called the house back into session for a highly unusual sunday evening session just in case. >>> an unexpected consequence of the fiscal cliff stalemate could mean sticker shock at your grocery store. milk prices could soon spike to $8 a gallon. wow. congress has been so bogged down with the fiscal cliff, the farm bill is still on the table. if congress does not pass it, dairy subsidies would immediately end on january 1, and those subsidies have been keeping milk prices low for 63 years. >>> the price of curbside parking in chicago is going up january 1. parking meters will charge $6.50 an hour in the downtown area. chicago will have the highest parking meter rates i
any compromise is expected to include an extension of the middle class tax cuts with increased rates at upper incomes. spending cuts could also be canceled. ahead of those talks, plenty of blame is being spread around already. >> john boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> hopefully there's time for an agreement of some kind. >> speaker john boehner called the house back into session for a highly unusual...
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Dec 28, 2012
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CSPAN2
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tax cuts will expire at the end of this year. obama was elected with a surplus of about three million votes. he campaigned on this issue. again, the speaker can't take yes for an answer. the president has presented tops him something that would prevent us from going over the cliff. it wasom in response to somethig the speaker gave to the president himself. but, again, i guess with thegues dysfunctional republican caucus in the house even the speaker can't tell what they're going to do, because he backed off from even his own proposal. mr. president, the house, weesid hear this so often, is controlled by the republicans, and we acknowledge that. be most happy to moveckno forward on something thato senator mcconnell said theyt wouldn't filibuster over here, that he would sport -- support and that boehner would sport if it werehe reasonable. but right now we haven't heard anything. i don't know, and it's nonw e ot my business, i guess, if the speaker and the majority leaderl are even talking. i mean, what's going on here? mr. presid
tax cuts will expire at the end of this year. obama was elected with a surplus of about three million votes. he campaigned on this issue. again, the speaker can't take yes for an answer. the president has presented tops him something that would prevent us from going over the cliff. it wasom in response to somethig the speaker gave to the president himself. but, again, i guess with thegues dysfunctional republican caucus in the house even the speaker can't tell what they're going to do, because...
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Dec 28, 2012
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at the period following the december 31st deadline we're told to come up with a fix to avoid massive tax hikes and spending cuts, affect lives of nearly every american many economists say could plunge the economy into another recession. chief white house correspondent ed henry live with the latest. so in this meeting, ed, is there any hope they will accomplish anything? >> reporter: well it is pretty low expectations, jon. what we're expecting when you talk to top officials of both parties the president will offer a scaled back plan, something he laid out lines friday before christmas here in the white house briefing room before he went to hawaii. where he said look, we have to scale back expectations. basically just extend middle class tax cuts. don't worry about the rates for everyone else. secondly extend unememployment insurance for about two million people who will be losing it a few days from now at the end of the year. finally he refer to possibility of smaller bit ever spending cuts. not major entitlement rerecall to. not major cuts to medicare like had been on the table in so-ca
at the period following the december 31st deadline we're told to come up with a fix to avoid massive tax hikes and spending cuts, affect lives of nearly every american many economists say could plunge the economy into another recession. chief white house correspondent ed henry live with the latest. so in this meeting, ed, is there any hope they will accomplish anything? >> reporter: well it is pretty low expectations, jon. what we're expecting when you talk to top officials of both...
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Dec 28, 2012
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to craft a deal to avert looming tax hikes and spending cuts. with most of the hoist members on vacation until sunday night, no plan in sight. how much can actually be accomplished. susan fereccio joins us now. chief congressional correspondent for the "washington examiner". we're seeing dianne feinstein there on the senate floor. it is vacant on the house side. so in truth how much is really going to get done? >> well, gregg, a lot of this negotiations are really taking place between the leadership levels right now. we don't really have to worry about what is happening on the house floor. it's about what is going on at the white house. now, the president today is going to meet with congressional leaders from both parties, both chambers. they will sit down. they will talk about a potential deal. the president might offer something that maybe the republicans could go for. it wouldn't be a sweeping deal. gregg: like what? >> might be something smaller. well, it would be something that could potentially avoid the major tax hikes coming in january.
to craft a deal to avert looming tax hikes and spending cuts. with most of the hoist members on vacation until sunday night, no plan in sight. how much can actually be accomplished. susan fereccio joins us now. chief congressional correspondent for the "washington examiner". we're seeing dianne feinstein there on the senate floor. it is vacant on the house side. so in truth how much is really going to get done? >> well, gregg, a lot of this negotiations are really taking place...
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Dec 28, 2012
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we do begin with the 11th-hour scramble to keep your taxes from going up and avoid that so-called fiscal cliff in washington. president obama has called the top congressional leaders to the white house this afternoon, for the first talks in more than a month. but hope for a new deal is fading. just yesterday, the senate majority leader is accusing the speaker of running a dictatorship if there's no deal within four days. just about every american will see their taxes go on up. >>> and this morning, more snow is threatening to make holiday travel difficult for millions of americans. as sam has been telling us, snow is falling across the upper midwest and will be moving into the northeast tomorrow. meantime, the recovery from the last storm is just beginning. 135,000 homes and businesses still without power in arkansas alone. many of them could be in the dark through next week. >>> and this morning, russian president vladimir putin has signed a highly controversial bill which bans americans from adopting russian children. dozens of pending adoptions now frozen, even cases where children --
we do begin with the 11th-hour scramble to keep your taxes from going up and avoid that so-called fiscal cliff in washington. president obama has called the top congressional leaders to the white house this afternoon, for the first talks in more than a month. but hope for a new deal is fading. just yesterday, the senate majority leader is accusing the speaker of running a dictatorship if there's no deal within four days. just about every american will see their taxes go on up. >>> and...
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Dec 28, 2012
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. >> we've been hearing about the talks with president obama and speaker boehner athat they were looking at the grand bargain that would include tax increases and changes to social security, changes to medicare, cuts in defense spending potentially as well. we're talking $3 to $4 trillion in changes over years. now it's going to be modest and that may include changes to the tax code. but they're going to have to come back in 2013 no matter what and talk about changes in med sare and social security and address the debt ceiling as well. host: these are two comments and they reflect the frustration in the country. how is the bickering back and forth solving anything fplgt all government spending should be on the table for spending reform. and the other viewer says obama and the other i had yots until the white house are doing what they do best, talk. guest: right after the election we heard them say the election is behind us, we can put down our swords and get down to doing the country's business. that evaporated within days and now we are back to where we were in the summer of 2011 where
. >> we've been hearing about the talks with president obama and speaker boehner athat they were looking at the grand bargain that would include tax increases and changes to social security, changes to medicare, cuts in defense spending potentially as well. we're talking $3 to $4 trillion in changes over years. now it's going to be modest and that may include changes to the tax code. but they're going to have to come back in 2013 no matter what and talk about changes in med sare and...